Daily News
From Home Furnishing Business
Pier 1 1Q Income Slips
June 18,
2015 by in Financial Reports, Industry 
Lifestyle retailer Pier 1 (NYSE: PIR) reported net income of $6.9 million for the first quarter ended May 30, compared to net income of $15.1 million in the same quarter last year.
Net sales for the quarter were $432 million, a 3.1 percent increase compared to net sales of $419.1 million in the second quarter last year.
“We are pleased to deliver earnings per share in line with our expectations, reflecting revenue growth of 3 percent, as well as careful attention to expense control,” said Alex Smith, president and CEO. “E-Commerce continues to perform exceptionally well, generating strong improvement across all performance metrics, and accounting for nearly 17 percent of total sales in the quarter.”
The complete earnings release is available online.